Ripple CEO Predicts Facebook’s Libra Digital Currency Delay Until 2023

Brad Garlinghouse’s Bold Prediction

In a recent scoop that slipped past the headlines, Brad Garlinghouse, the head honcho of Ripple, stepped into the spotlight with a daring forecast. During an interview on October 7, he asserted that Facebook’s ambitious Libra project is likely doomed to face delays and won’t see the light of day before 2023. Brace yourselves, folks!

The Regulatory Minefield

Garlinghouse delved into the sticky web of regulatory concerns surrounding Libra. He believes that the flak Facebook has received since announcing Libra back in June is only the tip of the iceberg. “I would bet that Libra… let’s say, by the end of 2022, I think Libra will not have launched,” he commented, painting a picture of a project beset by persistent pushback from governments globally.

Global Government Concerns

What’s the source of this troubling fodder? Well, officials from various corners of the globe, including Germany’s finance minister, have raised alarms about digital currency issuance. They’re keen on keeping the reins firmly in the hands of state institutions—no Facebook shenanigans allowed!

Famous Friends or Fickle Allies?

As Libra’s support dwindles, it seems Facebook might end up with fewer allies than anticipated. Tim Cook, Apple’s own captain, weighed in on the matter just a few days prior, declaring with a firm shake of the head that Apple has no plans to follow suite. Talk about a digital double whammy!

PayPal’s Exit: A Major Blow

Adding to the woes, PayPal, a significant player in the Libra Association, decided to pull the plug entirely. Citing concerns over its reputation—no surprise there!—the company issued a statement declaring their support for Libra’s goals while kindly suggesting they’re on another path. And just like that, Facebook’s arsenal of allies shrinks farther.

Conclusion: The Future of Libra

As we gaze into the crystal ball of digital currencies, it’s clear that Libra is treading dark waters. The regulatory scrutiny, the exit of key partners, and a rough public reception paint a bleak picture for Facebook’s lofty ambitions. So, will we see Libra thrive, or is this the digital currency that never was? Stay tuned, folks!